Guideline Value for KALAKSHETRA AVENUE

Kalakshetra Avenue guideline value

The current guideline value of Kalakshetra Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Kalakshetra Avenue has changed

Kalakshetra Avenue has seen significant changes in its guideline value over the years. The earliest recorded figure in the register is from 2002, where the value was Rs 1,360 per sq.ft. This increased to Rs 1,505 per sq.ft in 2003, marking an 11% rise. The value then experienced a 20% increase to Rs 1,800 per sq.ft in 2007. Following this, the guideline value surged by 456% to reach Rs 10,000 per sq.ft in 2012. However, it then saw a decline of 33% to Rs 6,700 per sq.ft in 2017. The value rose again by 49% to Rs 10,000 per sq.ft in 2023, before reaching its current figure of Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 709%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, positioning Kalakshetra Avenue above this median.

• Kalasethra Colony: Rs 12,660 per sq.ft (2024)
• Kalashetra Road: Rs 12,660 per sq.ft (2024)
• Kalaignar Karunanidhi Street: Rs 7,150 per sq.ft (2024)
• Justic Ramanujam Street: Rs 9,900 per sq.ft (2024)
• Justic Avenue: Rs 11,000 per sq.ft (2024)
• Kamaraj Avenue: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kalakshetra Avenue

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalakshetra Avenue?

The Sub Registrar Office that covers Kalakshetra Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruvanmiyur

The guideline value is a critical factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair and transparent rate.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kalakshetra Avenue?

The current guideline value of Kalakshetra Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 1,360 per sq.ft to Rs 11,000 per sq.ft in 2024, marking an overall increase of 709%.

What is the land classification for Kalakshetra Avenue?

The land classification for Kalakshetra Avenue is Residential Special Type - II.

Where can I find the Sub Registrar Office for Kalakshetra Avenue?

The Sub Registrar Office for Kalakshetra Avenue is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Kalakshetra Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,10,00,000, the stamp duty at 7% would be Rs 7,70,000.